Posted on August 26, 2009 - by admin

Arizona Anti-Deficiency Statutes

by Jeffrey AustinArizona’s anti-deficiency statue goes into effect September 30, 2009. The Federal Law prohibits lenders from recovering assets against borrowers, such as autos and bank accounts, after the lender forecloses on the borrower’s property. There are key requirements that apply, to fall under this new statue.The law which takes effect September 30, 2009 prevents a bank from going after the borrowers assets, such as cars and bank accounts once the home is foreclosed upon

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Arizona Anti-Deficiency Statutes